Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 82 · 40 questions

Business tip (Money in, money out): Income = money coming in; expense = money going out. Keep every bill or receipt. Profit = total income − total expenses. If expenses are more, loss = expenses − income. Update the record the same day, before you forget.

1. 1.📒 Income or expense: printing posters? (a) income (b) expense
2. 2.Which of these is an expense (money out)? (a) cash from selling plants (b) a card order paid (c) buying paper cups (d) tutoring fees received
3. 3.Which of these is income (money in)? (a) buying lemons (b) paying the stall fee (c) bus fare to the market (d) money from sales
4. 4.📒 Why write down every sale and cost? (a) to know the real profit (b) no reason (c) to look busy (d) to fill a notebook
5. 5.Lakshmi’s record for a rainy day:
   Income: ₹210 (sales)
   Expense: ₹160 (paper cups)
   Expense: ₹110 (lemons)
   How much is the loss (in ₹)?
6. 6.Zoya’s income was ₹430 and the profit was ₹180. One expense was ₹230 (paper cups). How much was the other expense, for sugar (in ₹)?
7. 7.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) printing posters (d) tutoring fees received
8. 8.Which of these is an expense (money out)? (a) tutoring fees received (b) paying the stall fee (c) a card order paid (d) money from sales
9. 9.📒 Income or expense: buying paper cups? (a) income (b) expense
10. 10.Which of these is income (money in)? (a) paying the stall fee (b) buying lemons (c) printing posters (d) cash from selling plants
11. 11.📒 Income or expense: payment for a cake order? (a) income (b) expense
12. 12.Aarav’s stall took in ₹110 on Friday, ₹400 on Saturday and ₹50 on Sunday. What was the total income (in ₹)?
13. 13.True or false: “buying paper cups” is income (money in). (a) True (b) False
14. 14.🧾 What should you keep after buying supplies? (a) the bill or receipt (b) only the bag (c) a selfie (d) nothing
15. 15.Which of these is income (money in)? (a) printing posters (b) buying lemons (c) bus fare to the market (d) payment for a cake order
16. 16.📒 Income or expense: bus fare to the market? (a) expense (b) income
17. 17.Farhan’s record for the day:
    Income: ₹90 (morning sales)
    Income: ₹130 (evening sales)
    Expense: ₹50 (lemons)
    Expense: ₹50 (card paper)
    What is the profit (in ₹)?
18. 18.➖ Profit in your records = (a) just the income (b) income − expenses (c) expenses − income (d) income + expenses
19. 19.Joseph’s stall took in ₹140 on Friday, ₹60 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
20. 20.📅 When is the best time to update your records? (a) the same day (b) once a year (c) whenever you like (d) never
21. 21.True or false: “paying the stall fee” is income (money in). (a) False (b) True
22. 22.Tara’s record for the day:
    Income: ₹330 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹180 (lemons)
    Expense: ₹50 (sugar)
    What is the profit (in ₹)?
23. 23.Rohan’s record for a rainy day:
    Income: ₹130 (sales)
    Expense: ₹10 (lemons)
    Expense: ₹210 (ribbon)
    How much is the loss (in ₹)?
24. 24.Dev’s income was ₹400 and the profit was ₹290. One expense was ₹90 (lemons). How much was the other expense, for stall fee (in ₹)?
25. 25.True or false: “printing posters” is an expense (money out). (a) False (b) True
26. 26.Meera’s record for a rainy day:
    Income: ₹120 (sales)
    Expense: ₹110 (stall fee)
    Expense: ₹80 (posters)
    How much is the loss (in ₹)?
27. 27.📒 Income or expense: buying lemons? (a) expense (b) income
28. 28.Aarav’s record for a rainy day:
    Income: ₹290 (sales)
    Expense: ₹60 (stall fee)
    Expense: ₹260 (posters)
    How much is the loss (in ₹)?
29. 29.True or false: “bus fare to the market” is an expense (money out). (a) True (b) False
30. 30.Which of these is an expense (money out)? (a) payment for a cake order (b) printing posters (c) tutoring fees received (d) a card order paid
31. 31.True or false: “buying lemons” is an expense (money out). (a) False (b) True
32. 32.📒 Income or expense: tutoring fees received? (a) expense (b) income
33. 33.Saanvi’s income was ₹380 and the profit was ₹290. One expense was ₹20 (posters). How much was the other expense, for transport (in ₹)?
34. 34.True or false: “money from sales” is an expense (money out). (a) False (b) True
35. 35.Saanvi’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹40 (evening sales)
    Expense: ₹160 (ribbon)
    Expense: ₹80 (transport)
    What is the profit (in ₹)?
36. 36.Rohan’s income was ₹150 and the profit was ₹120. One expense was ₹10 (card paper). How much was the other expense, for lemons (in ₹)?
37. 37.📒 Income or expense: cash from selling plants? (a) income (b) expense
38. 38.Rohan’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹140 (evening sales)
    Expense: ₹200 (ribbon)
    Expense: ₹20 (transport)
    What is the profit (in ₹)?
39. 39.Riya’s stall took in ₹320 on Friday, ₹350 on Saturday and ₹190 on Sunday. What was the total income (in ₹)?
40. 40.📒 Income or expense: a card order paid? (a) income (b) expense

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